GoldmanSachs666 Message Board

Fraud*According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain*As defined in Wikipedia

Yes, we all write about GS, many hate GS, some would like to see GS be put out of business and go away. I want to see GS brought to justice. I want to see GS executives, board members and possibly even former CEO's like Hank Paulson brought to justice if there is any indication of wrong doing on their parts.

However, the question of wrong doing - downright illegal activities - seem to be skirted every step of the way. All the Congressional Hearings over the past year pointed fingers, called CEO's out and our President even called them "FAT CATS" but no one is asking the questions, "what part did they play in the original mortgage meltdown that led to the worst financial crisis this country has ever seen (yes, I believe it is worse then the Great Depression).

In the past asking such questions was considered "conspiracy theories" but more and more today, I am not alone in saying there is more to this whole thing then has been reported and GS is more involved then we have been told.

There was a hint during the most recent Congressional Hearings. I think I heard Mr. Glankfein say that at one point they bid so low on mortgage papter (and bonds) that no one would sell. In other words, he answered a question that I have been asking sine March of 2007. How did the market suddenly collapse? How was it possible that the once thriving market for MBS's had suddenly and abruptly come to an end? How, I wondered could investors worldwide - mostly very sophisticated - all stop investing almost overnight? How, I wondered, was the tap turned off thus causing the mortgage meltdown and a financial crisis we will be dealing with for years to come?

Blankfein answered all those questions. He (GS) intentionally bid so low that lenders would not sell loans and other investment houses would not sell their bonds. With secondary market (aftermarket) for loans, lending would have to stop because the money - if not recirculated - ran dry.

A new question now also comes to mind. When GS bid low to discourage sales of laons did they do so knowing the market would crash? An ideal situation for them and Paulson & company (not our former Treasury Secretary and former GS CEO) who were betting that the market would crash. Now this question is more criminal then it is civil and inquiring minds need to know.

This is only one small part of the puzzle.which needs to be fully investigated by our so called regulators and justice system Oh, yeh, the is some talk on the street (web) that Justice is looking into possible criminal charges. I heard that back in 2008 when the FBI said they were investigating 14 banks for possible fraud and complicity in the mortgage meltdown. No names ever were given nor has there ever been a follow up announcement by the FBI. Just another example of what I have always called "feel good" reporting to make us believe something real is being done when in reality there is nothing being done.

It is time for conspiracy theories to be taken seriously - so much more - that perhaps someone will listen and decide to do a real investigation.

Goldman Sachs - I believe - is dirty and so are the other Wall Street firms that were very much involved and complicit in the creation of the bubble and the ultimate bursting of it. The "quick" sales of firms to other banks, the overnight issuance of billions of dollars done before America literally woke up on a Monday morning, the fear tactics used to pay out trillions all remain LARGE QUESTIONS in my mind.

I want to know how we all got destroyed by a handfull of not so qukc talking banking executives who managed to destroy 40% of the worlds's wealth and transfer much of it to themselves.

The more I read and hear about GS PR problems, the SEC lawsuit, stockholder law suits and will Blankfein survive as CEO, the less interested and tolerant I become. GS is the big bad wolf leading the pack of wolves who gather in their hidden dens in plain sight of us all making a mockery of us. The issues are greater then all the reports we are hearing about.

That, to me, is the real story that all the media from around the world is missing or is just affraid to report on. Why?

Of course, these are just my feelings and as always, I could be wrong. What do you think

However, it is time to move on. We have Bill Clinton running trial balloons for the gold standard and saying he was wrong to listen to Rubin and Summers. Clinton is right about one thing - the real economy cannot function productivity with the current system. We have the Administration proposing vastly increased powers for the Fed while it fights mightily in the courts for the AIG situation to stay buried forever. After all, AIG is up to its eyeballs with Goldman on building the mortgage bubble. Now we have a series of events unfolding in Europe (economic hits on Iceland and Greece, with more threatened) that would indicate it is time for the special drawing rights (SDR) system to begin to create a new global meta-currency that can continue to centralize economic control. Indeed the Swiss National Bank has called for a meeting in Zurich with the IMF shortly.

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Famous Quotes

The men the American people admire most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth. … H.L. Mencken

An age is called Dark not because the light fails to shine, but because people refuse to see it…James Albert Michener, novelist (1907-1997)

It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime. … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer

Laws just or unjust may govern mens actions. Tyrannies may restrain or regulate their words. The machinery of propaganda may pack their minds with falsehood and deny them truth for many generations of time. But the soul of man thus held in trance or frozen in a long night can be awakened by a spark coming from God knows where and in a moment the whole structure of lies and oppression is on trial for its life.: Sir Winston ChurchillWhen governments fear the people, there is liberty. When the people fear the government, there is tyranny. - Thomas Jefferson

When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William BlackWhen the people fear their government, there is tyranny; when the government fears the people, there is liberty." - Thomas JeffersonI believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered. Thomas Jefferson - 1802

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